According to ProFootballTalk, the Broncos decided against offering the return specialist a minimum tender offer Thursday, per a league source. It's conceivable that Holliday could return to Denver, but the diminutive speedster likely would have to take less money.

Holliday, who was a restricted free agent, fielded both punts and kickoffs for the AFC champions, amassing 1,046 total return yards and finding the end zone twice in 2013. However, the fourth-year pro had issues holding onto the ball; he's fumbled nine times during punt returns over the past two seasons alone.